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Pinterest shares plunged about 15% on Friday after the image-sharing platform warned of weaker ad spending in the US, its biggest market, due to the removal of the “de minimis” trade loophole.
Tariffs-driven uncertainty and a suspension of the exemption that allowed packages valued at or under $800 to be shipped to the US without facing import duties have forced some Asian ecommerce companies to scale back their US marketing budgets.
Those companies are now focusing on Europe and their home markets, where advertising rates are typically lower than…
